Summary of Results Concerning Family Assets

1. Family assets per household amounted to 43.87 million yen for all households, down (-)18.4% from five years ago

As of the end of November 1999, family assets (net assets) of two or more person households (all households) came to 43.87 million yen per household.

This amount consisted of 26.77 million yen in residential land assets, 8.95 million yen in financial assets, 6.20 million yen in housing assets, and 1.94 million yen in durable consumer goods assets.

Family assets fell (-)18.4% from 1994. In particular, residential land assets plunged (-)26.4% due to a sharp downturn in land prices. Housing assets also were off (-)5.9%. On the other hand, financial assets increased (+)5.7%.

Table 1 Breakdown of Family Assets per Household

Figure 1 Comparison of Family Assets per Household with Previous Survey (All Households)

2. Family assets of two-thirds of all households are less than the average

An examination of the distribution of households by family asset group shows that the average of total assets is 43.87 million yen and the medium is 28.71 million yen. Moreover, 66% of all households have assets below the average, and the distribution is therefore uneven, with greater weight on the lower end of the asset value.

A look at the distribution of households by housing and residential land asset group reveals that the average for households with housing and residential land assets stands at 41.83 million yen and the medium stands at 27.51 million yen.

Figure 2 Distribution of Households by Family Asset Group (All Households)

3. Family assets of yearly income Group X are 3.1 times those of Group I, down from 5 years ago

A comparison of family assets of all households by yearly income decile groups indicates that family assets amounted to 28.60 million yen for Group I and 87.48 million yen for Group X. In general, family assets tend to be larger as the yearly income group goes up.

Compared with 1994, total assets contracted by more than (-)10% in all groups except Group III. In particular, total assets registered the sharpest decline ((-)28.5%) in Group X.

The disparity between income groups as seen by the ratio of family assets of Group X to those of Group I (X / I) stands at 3.1 times. By type of asset, the ratio is 4.1 times for durable consumer goods assets (include golf memberships, etc.), 4.1 times for housing assets, 3.1 times for residential land assets, and 2.5 times for financial assets.

The disparity in total assets between income groups decreased from 3.4 times in 1994 to 3.1 times in 1999. By type of asset, the disparity in financial assets, residential land assets and durable consumer goods assets narrowed while the disparity in housing assets widened.

Table 2 Family Assets per Household by Yearly Income Decile Group (All Households)

Figure 3 Comparison of Family Assets per Household by Yearly Income Decile Group with Previous Survey (All Households)

4. The rental asset-holding rate is especially high at 14.1% in Group X, which boasts the highest income

A look at the holding rate for housing and residential land assets other than the current residence by type of asset reveals that the relative residential asset holding rate stands at 4.1% in Group I and 9.9% in Group X, suggesting that the holding rate rises as income goes up.

As for assets for rent as well, the holding rate tends to rise as income becomes higher. In particular, the holding rate is high in Group X, standing at 14.1%.

The holding rate for relative residential assets is high in Group I through Group VII, the rate for other assets is high in Group VIII and Group IX, and the rate for rental assets is high in Group X.

Figure 4 Holding Rate for Housing and Residential Land Assets other than Current Residence by Yearly Income Decile Group (All Households)

5. Family assets decrease by more than (-)20% in households of corporative administrators and private administrators

By type of occupation of the household head, family assets plummeted more than (-)10% from 1994 for all occupations. In particular, family assets plunged more than (-)20% in households of corporative administrators and private administrators.

Table 3 Family Assets per Household by Occupation of Household Head

6. Family assets top 30 million yen in all age groups of 60 years or older among one-person households

A look at family assets for one-person households by sex and age group shows that the asset value increases for both men and women as the age group goes up.

Family assets exceed 30 million yen in all age groups of 60 years or older for both men and women, accounting for roughly 50-70% of family assets of households with two or more person and whose household head is in his/her 60s and aged 70 years or older.

Figure 5 Family Assets by Sex and Age Group (One-Person Households, All Households)